First State Bank v. Sibley County Bank
Supreme Court of Minnesota
Action in the district court for Ramsey county to foreclose a real-estate mortgage executed by defendant H. Burton Strait to defendant Orrin Kipp to secure the payment of certain promissory notes respectively transferred to and held by plaintiff and defendants Sibley County Bank and Lyon County National Bank. The case was tried before Olin. B. Lewis, J., who found in favor of plaintiff and for general relief asset forth in the opinion.
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Action in the district court for Ramsey county to foreclose a real-estate mortgage executed by defendant H. Burton Strait to defendant Orrin Kipp to secure the payment of certain promissory notes respectively transferred to and held by plaintiff and defendants Sibley County Bank and Lyon County National Bank. The case was tried before Olin. B. Lewis, J., who found in favor of plaintiff and for general relief asset forth in the opinion. From an order denying a motion for a new trial, defendant Frederick Habegger, as trustee in bankruptcy of defendant Strait, appealed.
1Opinion of the CourtElliott, J.
On July 2, 1903, H. Burton Strait was indebted to certain banks, and, being unable to meet the demands of his creditors, entered into' an oral agreement with the representatives of the banks which held his-paper, whereby he agreed to secure their claims in consideration of their granting him an extension of time within which to meet his obligations. At that time Strait was the owner of certain real estate in Minnesota and North Dakota, and owed the first State Bank of Le Sueur $1,500, the Sibley County Bank $5,500, the First State Bank of Arlington $3,500, and the Lyon County Bank $5,000. In…
2Cases cited14 opinions
- Wood v. WeimarSupreme Court of the United States · 1881
- Tapia v. DemartiniCalifornia Supreme Court · 1888
- Moran v. MoranSupreme Court of Iowa · 1897
- Mercantile National Bank of Cleveland v. ParsonsSupreme Court of Minnesota · 1893
- Orth v. OrthIndiana Supreme Court · 1895
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3Cited by3 opinions
- Security National Bank of Minneapolis v. PulverSupreme Court of Minnesota · 1915
- Midland National Bank v. HendricksonSupreme Court of Minnesota · 1926
- Scott v. KirtleySupreme Court of Florida · 1933